Anchored at a high level of 150.000 VND/kg, pepper prices will fluctuate strongly again

Domestic pepper price today

Pepper prices today, July 30, 7, in the Southeast region, leveled off for the 2024rd consecutive day, remaining stable compared to yesterday, trading around 3 - 149.000 VND/kg, high buying price. The highest price in Dak Nong and Dak Lak provinces is 150.000 VND/kg.

Pepper price today July 30, 7: Anchored at a high level of 2024 VND/kg, pepper prices will fluctuate strongly again

Specifically, the price of Dak Lak pepper purchased at 150.000 VND/kg was flat compared to yesterday. The purchasing price of Chu Se pepper (Gia Lai) was 149.000 VND/kg, keeping the price unchanged compared to yesterday. Dak Nong pepper price today was recorded at 150.000 VND/kg, stable compared to yesterday.

In the Southeast region, pepper prices today also remained the same compared to yesterday. Specifically, in Ba Ria - Vung Tau, it is currently at 150.000 VND/kg, about the same price as yesterday; In Binh Phuoc, pepper price today remained at 149.000 VND/kg, stable compared to yesterday.

Thus, pepper prices today are stable in some localities in key growing areas, recording the highest price of 150.000 VND, fluctuating in the price range of 149.000 - 150.000 VND/kg.

Since the beginning of the year, domestic pepper prices continuously increased until reaching a peak of 180.000 VND/kg on June 12. Since that time, pepper prices have decreased and changed continuously, fluctuating around 6 - 140.000 VND/kg. This is still considered a record high since 160.000.

By the end of the second quarter, domestic pepper prices had increased about 93% compared to the beginning of the year and 2,3 times higher than the same period last year.

Experts all say that pepper prices will continue to increase, although in the short term there may be downward adjustments, but they will not be too deep and the market has formed a new price level.

However, according to many farmers in pepper growing areas, although prices have increased, growers have not benefited much. Due to the effects of climate change, pepper productivity has decreased sharply in recent years, on average from 20 – 30%.

Reduced output, low inventory, and increased psychology of keeping goods make it so that even when prices are rising like today, farmers still choose to sell "drip" to explore the market.

According to some industry experts and representatives of export businesses, although pepper prices are at the highest price range in recent years, actual transactions are quite gloomy.

World pepper price today

Updated world pepper prices from the International Pepper Association (IPC), at this time, Indonesian black pepper prices increased and decreased mixed compared to yesterday; Brazilian pepper and Malaysian pepper prices did not change. Vietnam pepper prices listed today are stable.

At the end of the most recent trading session, IPC listed the price of Lampung black pepper from Indonesia at 7.153 USD/ton, up 0,04%, the price of Muntok white pepper reached 8.765 USD/ton, down 3,86%.

Brazilian ASTA 570 black pepper price was kept stable at 6.950 USD/ton. Malaysia's ASTA black pepper price was also kept stable at 7.500 USD/ton; The price of ASTA white pepper in this country reached 8.800 USD/ton.

Vietnam black pepper prices simultaneously kept their prices at a high mark, trading at 6.000 USD/ton for 500 g/l type; type 550 g/l at 6.600 USD/ton; White pepper price is at 8.800 USD/ton.

It is forecasted that India will increase imports of pepper for processing, pepper prices will fluctuate strongly again. In the first 5 months of 2024, India exported 8.173 tons of pepper to the world market, an increase of 34,1% over the same period in 2023. Pepper consumption in the Indian domestic market is also increasing thanks to changing eating habits and increased demand from masala and spice manufacturers... With high domestic and international demand, India may have to increase imports of raw materials for processing in the near future. , this is considered an opportunity for pepper exporters around the world including Vietnam.

According to preliminary data from the General Department of Customs, Vietnam exported 8.099 tons of pepper to the Indian market, out of a total of 141.392 tons exported in the first 6 months of 2024. Pepper export turnover to India in This period reached 34,66 million USD, with an average price of 4.280 USD/ton. Thus, compared to the same period in 2023, Vietnam's pepper exports to this market increased sharply by 46,51%, average price increased by 30,09% and turnover increased by 90,6%.

Price goals in the country on the 30th/7/2024

*Information is for reference only. Prices may change depending on time and location.